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M.296 An Aid to Accountancy—CBSE XII

A’s Capital A/c ...Dr. 4,000
B’s Capital A/c ...Dr. 6,000
C’s Capital A/c ...Dr. 2,000
To Goodwill A/c 12,000
(Being the existing goodwill written off)
A’s Capital A/c ...Dr. 4,000
B’s Capital A/c ...Dr. 6,000
C’s Capital A/c ...Dr. 2,000
To Advertisement Suspense A/c 12,000
(Being the advertisement Suspense Account written off)
A’s Capital A/c ...Dr. 48,000
To B’s Capital A/c 18,000
To C’s Capital A/c 30,000
(Being the gaining partner A compensates both the
sacrificing partners) (WN 3)
C’s Capital A/c ...Dr. 3,31,000
To C’s Executor’s A/c 3,31,000
(Being the amount payable to C’s Executor)
C’s Executor’s A/c ...Dr. 1,65,500
To Bank A/c 1,65,500
(Being 50% amount paid to C’s Executor)

Dr. C’S CAPITAL ACCOUNT Cr.
Particulars ` Particulars `
To Goodwill A/c 2,000 By Balance b/d 3,00,000
To Advertisement Suspense A/c 2,000 By Workmen Compensation Reserve A/c 2,000
To C’s Executor’s A/c (Balancing Figure) 3,31,000 By Investment Fluctuation Reserve A/c 1,000
By Revaluation A/c (Gain) 2,000
By A’s Capital A/c (Goodwill) 30,000
3,35,000 3,35,000

Dr. C’S EXECUTOR’S ACCOUNT Cr.
Date Particulars ` Date Particulars `
2018 2018
April 1 To Bank A/c 1,65,500 April 1 By C’s Capital A/c 3,31,000
2019 2019
March 31 To Balance c/d 1,82,050 March 31 By Interest A/c 16,550
3,47,550 3,47,550
2019 2019
April 1 To Bank A/c (` 82,750 + ` 16,550) 99,300 April 1 By Balance b/d 1,82,050
2020 2020
March 31 To Balance c/d 91,025 March 31 By Interest A/c 8,275
1,90,325 1,90,325
2020 2020
April 1 To Bank A/c (` 82,750 + ` 8,275) 91,025 April 1 By Balance b/d 91,025
91,025 91,025